But Bloomberg senior ETF analyst Eric Balchunas‘If change at POTUS, I think anything possible…I see this filing as a call option on the POTUS election. Because the election happens but the 240 days the SEC has to ponder.’Balchunas’s sentiment was echoed by another policy watcher, Scott Johnsson, a finance lawyer at Van Burien Capital. Johnsson‘This SEC is going to change the rules again when it’s politically expedient.
Given the conviction that Solana ETF could be a matter of ‘when’ not ‘if’, crypto market maker GSR has gone ‘long on SOL.’ In a recent update, GSR‘And with the others having or on the cusp of a spot ETF, not only is it likely just a matter of time before Solana gets one too, but also the impact on SOL just might be the largest yet…GSR is long SOL.’
GSR estimated that the ETF could attract 2%- 14% of BTC ETF flows. Per the market maker, if SOL ETF attracts 14% of BTC flows, SOL’s price could rally 8.9X in a bullish case scenario .In the meantime, the Thursday upswing saw SOL hit $150. However, it also reached the 50-day EMA , which could be a key resistance level if the crowd optimism wanes.As of press time, SOL had erased part of Thursday’s gains and traded at $145.
Source: News Formal (newsformal.com)
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